Question 1:

"High Rate of Business Failures" Please respond to the following:

The textbook discusses the constant high rate of business failures in the U.S. Select one of the reasons for failure and develop an outline of a step-by-step plan for overcoming that reason for failure.

Agree or disagree with the following scenario: Imagine that someone told you that today's global marketplace and the ability of potential customers to easily compare the prices and services of firms means that business owners must always compete on the basis of price. Develop a response to this person that clearly illustrates your position and explains why you feel that way.

Question 2:

The textbook discusses the constant high rate of business failures in the U.S. Select one of the reasons for failure and develop an outline of a step-by-step plan for overcoming that reason for failure.

Failure to understand your market and customers

Study the market
Study the customers
Look for what consumers want
Look at your competition
Test your product and see if consumers agree with it/like it
Research your competition
Geographically choose the right area

Agree or disagree with the following scenario: Imagine that someone told you that today's global marketplace and the ability of potential customers to easily compare the prices and services of firms means that business owners must always compete on the basis of price. Develop a response to this person that clearly illustrates your position and explains why you feel that way.

Question 3:

"Sum It Up" Please respond to the following:

Rate the three most important concepts that you learned in this course in order of importance (one being the most important).

Write a speech that you would give to a friend in an elevator summing up the contents of course.